Dr. Reddy’s Laboratories (NYSE:RDY) Cut to “Neutral” at Nomura

Nomura downgraded shares of Dr. Reddy’s Laboratories (NYSE:RDY) from a buy rating to a neutral rating in a research report released on Thursday, Marketbeat.com reports.

Several other analysts also recently weighed in on the stock. Barclays dropped their target price on shares of Dr. Reddy’s Laboratories from $17.40 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, November 6th. StockNews.com cut Dr. Reddy’s Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 6th.

Dr. Reddy’s Laboratories Price Performance

Shares of RDY opened at $15.37 on Thursday. The firm has a 50-day simple moving average of $14.80 and a two-hundred day simple moving average of $15.39. The stock has a market cap of $12.83 billion, a PE ratio of 24.55 and a beta of 0.53. Dr. Reddy’s Laboratories has a 1-year low of $13.31 and a 1-year high of $16.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.36.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RDY. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Dr. Reddy’s Laboratories by 318.0% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 372,900 shares of the company’s stock valued at $28,411,000 after buying an additional 283,700 shares during the period. Fisher Asset Management LLC boosted its holdings in Dr. Reddy’s Laboratories by 59.4% in the third quarter. Fisher Asset Management LLC now owns 491,303 shares of the company’s stock valued at $39,034,000 after purchasing an additional 183,146 shares during the period. Millennium Management LLC grew its stake in Dr. Reddy’s Laboratories by 61.4% during the 2nd quarter. Millennium Management LLC now owns 332,502 shares of the company’s stock worth $25,333,000 after purchasing an additional 126,472 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Dr. Reddy’s Laboratories by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,003,782 shares of the company’s stock worth $76,455,000 after purchasing an additional 114,294 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Dr. Reddy’s Laboratories by 219.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 155,481 shares of the company’s stock valued at $12,353,000 after purchasing an additional 106,796 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Dr. Reddy’s Laboratories Company Profile

Dr. Reddy’s Laboratories Limited, together with its subsidiaries, operates as an integrated pharmaceutical company worldwide. It operates through Global Generics, Pharmaceutical Services and Active Ingredients (PSAI), and Others segments. The company’s Global Generics segment manufactures and markets prescription and over-the-counter finished pharmaceutical products that are marketed under a brand name or as a generic finished dosages with therapeutic equivalence to branded formulations, as well as engages in the biologics business.